Stock Market: Sensex Jumps 300 Points; Nifty Trades Around 19,800 On Global Cues. PSU Banks Lead

Stock update: On the 30-share Sensex platform, PowerGrid, Bajaj Finance, Tata Steel, HDFC Bank, Bajaj Finserv, TechM were among lead gainers

In the broader markets, the BSE Midcap and Smallcap indices gained 0.48 per cent and 0.83 per cent, respectively.

Source : Getty

The two key equity benchmarks, Sensex and Nifty, on Tuesday started trading in the green on the back of stable global cues. At 9.40 am, the BSE Sensex soared 303 points to 66,469. On the other hand, the NSE Nifty50 was trading at 19,817, up 85 points.  

On the 30-share Sensex platform, PowerGrid, Bajaj Finance, Tata Steel, HDFC Bank, Bajaj Finserv, TechM were among lead gainers. On the downside, HUL and L&T were the only two losers.

#ABPStockMarketWatch | Sensex and Nifty began trading in the green on the back of firm global cues, on Tuesday

At 9:48 AM, #Sensex rose by 338 points to 66,505 & #Nifty by 96 points to 19,828

Here's a look at the stocks in focus:#ABPLive #MarketWatch pic.twitter.com/yhiQT4gTbB

— ABP LIVE (@abplive) October 17, 2023

In the broader markets, the BSE Midcap and Smallcap indices gained 0.48 per cent and 0.83 per cent, respectively.

Sectorally, all the key indices were trading in the green, with the Nifty PSU Bank index up 0.8 per cent, followed by the Nifty Financial Services and Metal indices (up 0.7 per cent each), and the Nifty Media index (up 0.5 per cent).

In the previous session on Monday, the S&P BSE Sensex closed at 66,167, down 116 points, while the NSE Nifty50 settled at 19,732, down 19 points.

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong were trading in the positive territory. The US markets had ended with gains on Monday.

Global oil benchmark Brent crude declined 0.01 per cent to $89.64 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 593.66 crore on Monday, according to exchange data.

Meanwhile, the rupee appreciated by 5 paise to 83.22 against the US dollar in early trade on Tuesday supported by a positive trend in domestic equities. Forex traders said the rupee is trading in a narrow range as sustained foreign fund outflows and strength of the American currency in the overseas market weighed on investor sentiments.

At the interbank foreign exchange, the domestic unit opened at 83.24 against the dollar and then touched an early high of 83.22, registering a gain of 5 paise over its previous close. On Monday, the rupee settled at 83.27 against the US dollar.